d.light, a for-profit social enterprise that manufactures and distributes solar lighting and power products with primary markets in the developing world, today announced the completion of an $11 million Series C financing. The Series C round included participation from all major investors, including DFJ, Omidyar Network, Nexus India Capital, Gray Ghost Ventures, Acumen Fund and Garage Technology Ventures. With the closing of Series C, d.light has raised a total of $40 million in capital.
Over the past year, d.light has sold 6 million solar light and power products that have improved the lives of nearly 30 million people. This additional funding will enable the company to continue to accelerate its product technology roadmap, expand its distribution in developing markets, broaden its services, and aggressively pursue new opportunities.
“We are seeing an enormous growth opportunity to provide clean, affordable solar light and power products to the relatively untapped markets of the developing world, and to make a positive impact on the lives of so many underserved consumers,” said Mohanjit Jolly, DFJ Managing Director. “d.light has built an extraordinary distribution system in the developing world with its innovative technology and products. They are the clear leader in a rapidly growing market. We’re thrilled to have the opportunity to support d.light and its commitment to bring lighting and power to the developing world.”
Since its founding seven years ago by Sam Goldman and Ned Tozun, d.light’s diverse product range has grown to include the affordable S2, the rugged portable S20, the ultra-bright S300 with mobile phone charging and the D20 solar home system. d.light’s products — small-scale, distributed renewable energy solutions designed for households and small businesses — are transforming the way people all over the world can access and pay for power.